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Poseidon Nickel (ASX:POS) - Managing Director & CEO, Peter Harold
Managing Director & CEO, Peter Harold
Source: Poseidon Nickel
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  • Poseidon Nickel (POS) has unveiled a maiden mineral resource estimate for the Golden Swan deposit at its Black Swan Project in WA
  • The Golden Swan mineral resource estimate (MRE) was prepared by independent consultants following a 69 hole, 22,000-metre exploration and resource drilling program
  • The total indicated and inferred resource at the deposit sits at 160,000 tonnes at 3.9 per cent nickel for 6,250 tonnes contained nickel
  • The company says it remains committed to its project schedule, with commissioning of Black Swan scheduled for December 2022
  • Shares in Poseidon Nickel are up 4.76 per cent to $0.11 at 10:49 am AEDT.

Poseidon Nickel (POS) has unveiled a maiden mineral resource estimate for the Golden Swan deposit at its Black Swan Project in WA.

The Golden Swan mineral resource estimate (MRE) was prepared by independent consultants following a 69 hole, 22,000-metre exploration and resource drilling program. Mineral resources at Golden Swan have been estimated for three contact and two hanging wall mineralised lenses.

The indicated resource at Golden Swan sits at 111,600 tonnes at 4.7 per cent nickel for 5,200 tonnes contained nickel.

The total indicated and inferred resource at the deposit is 160,000 tonnes at 3.9 per cent nickel for 6,250 tonnes contained nickel.

Poseidon said the Golden Swan deposit adds significant nickel tonnes to the high-grade inventory at Black Swan, with indicated resources of high-grade at Black Swan now 219,600 tonnes at 7 per cent nickel for 15,330 tonnes of contained nickel.

The company said the MRE has been validated both visually and statistically.

Managing Director and CEO Peter Harold said the Golden Swan resource is a big step towards restarting operations at Black Swan.

“The Golden Swan resource is located only 120 metres from the drill drive developed earlier this year and could be brought into production in a short time frame,” said Peter Harold.

“Mine studies have commenced to potentially convert the Golden Swan resource to a mine reserve.”

The company said it remains committed to its project schedule, with commissioning of Black Swan scheduled for December 2022.

Shares in Poseidon Nickel are up 4.76 per cent to $0.11 at 10:49 am AEDT.

POS by the numbers
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